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L Brands, Inc. (LB), GTT Communications, Inc. (GTT) & Abiomed, Inc. (ABMD) - Class Action Update - Bronstein, Gewirtz & Grossman, LLC

NEW YORK, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. 

L Brands, Inc. (NYSE: LB) 
Class Period: May 31, 2018 - November 19, 2018 
Deadline: September 23, 2019
For more info:
www.bgandg.com/lb
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:  (1) the Victoria’s Secret and PINK businesses were having a material adverse effect on L Brands’ cash flow, liquidity and debt levels; (2) Defendants lacked a reasonable basis for their positive statements about the ability of the Company to sustain its dividend; (3) the MD&A disclosures in filings L Brands made with the SEC were materially false and misleading; (4) the risk factor disclosures in filings L Brands made with the SEC were materially false and misleading; (5) the representations about L Brands’ disclosure controls in filings the Company made with the SEC were materially false and misleading; (6) the certifications issued by Defendants Wexner and Burgdoerfer on L Brands disclosure controls were materially false and misleading; (7) as a result, defendants’ statements about L Brands’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

GTT Communications, Inc. (GTT)
Class Period: February 26, 2018 - July 1, 2019
Deadline: September 30, 2019
For more info: www.bgandg.com/gtt
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) there were delays in migrating Interoute Communications Holdings S.A.’s (“Interoute”) legacy systems and processes into GTT’s client management database system; (2) Interoute had made a strategic priority shift to sell cloud services that was a higher percentage of Interoute’s sales in the two years leading up to the acquisition; (3) a material percentage of the Interoute sales representatives were not productive at selling GTT’s core cloud networking services; (4) GTT was unable to yield as many Interoute salespeople because Interoute had hired many sales people focused on cloud services and allowed underperforming sales representatives to remain at Interoute; and (5) as a result, GTT’s public statements were materially false and misleading at all relevant times.

Abiomed, Inc. (ABMD
Class Period: January 31, 2019 - July 31, 2019
Deadline: October 7, 2019
For more info: www.bgandg.com/abmd
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) ABIOMED’s revenue growth was in decline; (2) the Company did not have a sufficient plan in place to stem its declining revenue growth;  (3) the Company was unlikely to restore its revenue growth over the next several fiscal quarters; (4) consequently, ABIOMED was reasonably likely to revise its full-year 2020 guidance in a way that would fall short of the Company’s prior projections and market expectations; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com